Press release
Banana Powder Market to Reach USD 2.24 Billion by 2030, Growing at a 7.5% CAGR
Banana Powder Market
The global banana powder market is experiencing significant expansion, driven by increasing demand across various sectors such as food and beverages, cosmetics, and pharmaceuticals. According to recent reports, the market size was valued at approximately USD 1.35 billion in 2023 and is projected to reach USD 2.24 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period.
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Competitive Landscape
The banana powder market is characterized by intense competition, with key players such as Chiquita Brands International, Dole Food Company, and Del Monte Fresh striving to maintain their market positions through continuous product innovation and strategic partnerships. These companies are focusing on enhancing product quality, expanding distribution networks, and investing in sustainable practices to meet the evolving consumer demands.
Regional Insights
United States: Growth Opportunities and Trends
In the United States, the banana powder market is witnessing substantial growth, primarily due to the rising health consciousness among consumers and the increasing incorporation of banana powder in smoothies, bakery products, and baby foods. The demand for natural and organic ingredients has propelled the market, with consumers seeking healthier alternatives in their diets. Additionally, the trend of plant-based and gluten-free diets has further boosted the utilization of banana powder in various food applications.
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Segmentation Analysis
by Source
Organic
Conventional
The volume share of organic banana flour is anticipated to surpass that of the conventional segment due to the increasing demand for organic products from the food and retail industries. Due to its lower manufacturing costs, almost half of the firms use the spray-dried method to produce banana flour.
by Application
Food & Beverage Industry
Cosmetics
Pharmaceuticals
Animal Feed
by Distribution Channel
Online
Offline
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Key Market Participants:
1. Natural Evolution Limited
2. International Agriculture Group
3. Zuvii
4. ADM Wild Europe Gmbh& Co
5. KG
6. Nutryttiva
7. NuNaturals, Inc.
8. Stawi Foods and Fruits Limited
9. Slingan Pty Ltd
10. Royal Nut Company
11. NOW Health Group, Inc.
12. Mevive International
13. Safety Foods Pvt Ltd
14. Taj Agro International
15. Vinayak Ingredients
16. Shree Biotech
17. Santosh Food Products
18. Guangxi ENDU High-Tech
19. Qingdao Xinmeixiang Foods
20. Yunnan LincangKaixiong Banana Co., Ltd.
21. Shaanxi Jintai Biological Engineering
22. Shine-Ball
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